Ordinance Establishing Maximum Allowable Tax Revenues. [Note: This is the “tax
cap” that ITA is seeking to renew the protections for, by initiative.]

City of Fairbanks
Propositions:

City Proposition #1:
VOTE YES Passed

To extend time for the annual independent
audit from 90 days to 180 days, and make it available for the public.

City Proposition #2:
VOTE YES Passed

To establish a Capital Projects Fund for the
City.

City Proposition #3:
NO ENDORSEMENT Passed

To limit the amount of municipal taxes that came come from Property Tax to 0.5
mills ($50 per 100,000 taxable assessed value) unless a higher levy is approved
by the voters in a general election. [Note: This would not effect Borough
Property Taxes]

City Proposition #4:
VOTE YES Passed

To establish that any new or additional sales taxes levied (except for
hotel/motel, alcohol, tobacco) must be approved by city voters in a general
election. [Note, this is by ITA initiative]

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